Question

The price of a home in Medford was $100,000 in 1985 and rose to $180,000 in 2005.

Create two models, f(t) assuming linear growth and g(t) assuming exponential growth, where t = number of years after 1985.

Answer 1

linear: price = 9000t +100000
exponential: price = 100000+ (log base 20 of 80,000)^t
log base 20 of 80000 is approximately 3.5.